Stock Traders Buy Large Volume of Put Options on Cameco (NYSE:CCJ)

Cameco Co. (NYSE:CCJ - Get Free Report) TSE: CCO was the target of some unusual options trading activity on Thursday. Investors bought 28,210 put options on the company. This represents an increase of approximately 942% compared to the typical volume of 2,706 put options.

Cameco Stock Down 1.1%

Shares of NYSE CCJ traded down $0.65 during trading on Friday, hitting $58.50. The stock had a trading volume of 5,411,440 shares, compared to its average volume of 4,230,536. The company has a market capitalization of $25.47 billion, a PE ratio of 208.93 and a beta of 0.89. The firm has a fifty day moving average of $46.27 and a two-hundred day moving average of $49.15. The company has a debt-to-equity ratio of 0.20, a current ratio of 2.88 and a quick ratio of 1.26. Cameco has a 12 month low of $35.00 and a 12 month high of $62.55.

Cameco (NYSE:CCJ - Get Free Report) TSE: CCO last posted its quarterly earnings results on Thursday, May 1st. The basic materials company reported $0.11 earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.07). The company had revenue of $549.58 million for the quarter, compared to the consensus estimate of $890.07 million. Cameco had a net margin of 5.39% and a return on equity of 4.34%. Cameco's quarterly revenue was up 24.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.13 EPS. As a group, equities research analysts forecast that Cameco will post 1.27 EPS for the current fiscal year.

Hedge Funds Weigh In On Cameco

Several institutional investors have recently added to or reduced their stakes in CCJ. Sierra Ocean LLC bought a new position in Cameco during the fourth quarter valued at about $25,000. Manchester Capital Management LLC boosted its position in Cameco by 100.0% during the first quarter. Manchester Capital Management LLC now owns 600 shares of the basic materials company's stock worth $25,000 after purchasing an additional 300 shares during the period. Hurley Capital LLC bought a new position in Cameco during the fourth quarter worth about $27,000. Bank Julius Baer & Co. Ltd Zurich bought a new position in Cameco during the fourth quarter worth about $28,000. Finally, Dagco Inc. bought a new position in Cameco during the first quarter worth about $28,000. Institutional investors own 70.21% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on CCJ. Stifel Canada upgraded shares of Cameco to a "strong-buy" rating in a research note on Wednesday, March 12th. Wall Street Zen upgraded shares of Cameco from a "sell" rating to a "hold" rating in a research note on Tuesday, May 13th. Desjardins began coverage on shares of Cameco in a research note on Friday, April 4th. They set a "buy" rating for the company. Scotiabank restated an "outperform" rating on shares of Cameco in a research note on Wednesday, May 14th. Finally, The Goldman Sachs Group assumed coverage on shares of Cameco in a research note on Tuesday, May 20th. They set a "buy" rating and a $65.00 price target for the company. One equities research analyst has rated the stock with a hold rating, nine have issued a buy rating and three have given a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus target price of $70.53.

Cameco Company Profile

Cameco Corporation provides uranium for the generation of electricity. It operates through Uranium, Fuel Services, Westinghouse segments. The Uranium segment is involved in the exploration for, mining, and milling, purchase, and sale of uranium concentrate. The Fuel Services segment engages in the refining, conversion, and fabrication of uranium concentrate, as well as the purchase and sale of conversion services.